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Evaluation of Super Micro Computer stock downgraded after the last trading session., 1 month ago

Super Micro Computer

The Super Micro Computer stock price fell by -1.04% on the last day (Friday, 5th Apr 2024) from $957.99 to $948.02. During the last trading day the stock fluctuated 5.36% from a day low at $932.02 to a day high of $981.99. The price has fallen in 6 of the last 10 days and is down by -2.43% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -388 thousand shares and in total, 5 million shares were bought and sold for approximately $5.01 billion.

On Mar 25, 2024, it was reported that Wells Fargo gave SMCI a "Buy" grade with a "hold" action.

Given the current short-term trend, the stock is expected to rise 144.40% during the next 3 months and, with a 90% probability hold a price between $2,317.01 and $3,436.23 at the end of this 3-month period.

Super Micro Computer

There are few to no technical positive signals at the moment. The Super Micro Computer stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1,000.28 and $986.35. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -20.21%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

On the downside, the stock finds support just below today's level from accumulated volume at $880.55 and $803.32.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Super Micro Computer finds support just below today's level at $880.55. If this is broken, then the next support from accumulated volume will be at $803.32 and $787.57.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $49.97 between high and low, or 5.36%. For the last week, the stock has had daily average volatility of 6.82%.

The Super Micro Computer stock holds several negative signals and despite the positive trend, we believe Super Micro Computer will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Check full Super Micro Computer forecast and analysis here.